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Switzerland Unemployment in February 2020: Down to 2.5 percent, seasonally adjusted unchanged at 2.3 percent

 

Unemployment Rate (not seasonally adjusted)

Bern, March 9th, 2020 – Registered unemployment in February 2020 – According to surveys by the State Secretariat for Economic Affairs (SECO), 117,822 unemployed people were registered with the regional employment centers at the end of February 2020, 3,196 fewer than in the previous month. The unemployment rate fell from 2.6% in January 2020 to 2.5% in the reporting month. Unemployment decreased by 1,651 people (-1.4%) compared to the same month in the previous year.

Switzerland Unemployment Rate n.s.a., February 2020

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Switzerland Unemployment Rate n.s.a., February 2020

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Seasonally adjusted Unemployment Rate

The seasonally adjusted unemployment rate is unchanged at 2.3%.

Switzerland Unemployment Rate s.a. February 2020

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Switzerland Unemployment Rate s.a. February 2020

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Number of unemployed and Job seekers

Youth unemployment in February 2020

Youth unemployment (15- to 24-year-olds) decreased by 477 people (-3.8%) to 12,120. Compared to the same month in the previous year, this corresponds to a decrease of 659 people (-5.2%).

Unemployed 50-64 years in February 2020

The number of unemployed 50-64 years decreased by 733 people (-2.1%) to 33,417. Compared to the same month in the previous year, this corresponds to an increase of 125 people (+ 0.4%).

Job seekers in February 2020

A total of 190,399 job seekers were registered, 3,834 fewer than in the previous month. Compared to the same period in the previous year, this number fell by 6,673 people (-3.4%).

Reported vacancies in February 2020

On July 1, 2018, the job registration requirement for occupations with an unemployment rate of at least 8% was introduced across Switzerland; since January 1, 2020, a threshold of 5% has now been applied. The number of vacancies registered with the RAV decreased in February by 401 to 38,151. Of the 38,151 jobs, 22,037 were subject to mandatory reporting.

Invoiced short-time work in December 2019

In December 2019, 3,279 people were affected by short-time work, 371 fewer people (-10.2%) than in the previous month. The number of companies affected decreased by 19 units (-11.1%) to 152. The number of lost working hours decreased by 66,786 (-30.2%) to 154,535 hours. In the corresponding period of the previous year (December 2018), 42,294 lost hours had been registered, which had been distributed among 842 people in 58 companies.

Levels in December 2019

According to preliminary data from the unemployment insurance funds, the number of people who had exhausted their right to unemployment benefits in the course of December 2019 was 2,807.

Switzerland, Number of Employed and Number of Job Seekers, February 2020

Switzerland, Number of Employed and Number of Job Seekers, February 2020

Source: newsd.admin.ch - Click to enlarge

 

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About SECO
SECO
State Secretariat for Economic Affairs SECO SECO is the federal government`s centre of excellence for all core issues relating to economic and labour market policy. It is our aim to contribute to sustained economic growth, high employment and fair working conditions, by creating the necessary regulatory, economic and foreign policy framework.
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